Lis is much better than me
Just wanted to keep some people informed of my trade.
Anyway, best of luck to you!
Two sales- average price of $25.56 (bought at $22.69)
May go higher, but $26 was the price I was looking for, so this was close enough
Good luck to everyone here
I will see what happens today and tomorrow and decide whether to buy back the shares I sold, or switch to DGAZ (if natural gas prices go above $2.17)
Thanks LIs for your reply.
Yes I have been following closely (bought DGAZ when natural gas was at $2.15 and flipped it for about an 8% profit- posted here- when natural gas decreased.
I tried to buy UGAZ when natural gas was at its lowest (about $2.05) and trying to sell it if we get to $2.15. I would love to see $2.30 though (LOL)
UGAZ follows 3 times the percentage change of UNG, not spot gas prices.
While UNG has mostly spot natural gas, they also own other futures gas prices.
Look at the holdings report for UNG.
Why do you say that $2.09 is a pivot point for natural gas (we have been hanging around that level for several hours now)?
Where do you think we are going on Monday?
I bought my original shares at $23.24 and averaged down to $22.69 with a lot of premarket buys today.
Thinking about taking some off the table.
I like your trading skills and style!
I have been trading volatility for the last 5 years and oil and gas the last year (as well as the market for over 30 years). I have also followed labu/ labd for the 6 months or so. I see that a lot of your trades are similar to mine.
I will posting on this message board
FYI- natural gas prices were affected the last few days based on the pipeline burst in PA (Spectra Energy). They have been posting updates on the accident and when they see the pipeline to be back in service.
Everyone should be aware of this.
I had posted several items on the DGAZ board on this.
Spectra Energy removed there wording "there has been minimal service disruptions to customers so far" in an update on their website on Monday
Also, late Monday they stated that they are not providing natural gas for at least today (did not mention when they think it will be restored)
This, along with David Einhorn (Greenlight Capital)investment in natural gas is affecting DGAZ price in the premarket today.
You have to use percentages when figuring these out in proportion to each other
Example- assume $100 gains 10% day one (to $110) and then loses $10 (or 9.0909%- $10/$110)
The reverse security goes down 10% day one (to $90) and then gains 9.0909% in day two ($98.18)
Both had the same percentages gains/ losses but in opposite direction.
Net result will be the security that losses value initially will not get back to the original value assuming the same percentage gain (as the security who gained value in day 1 and then loses value in day 2)
I am using 20.58 for DGAZ and 22.14 for UGAZ when i first commented to you